Jingbo Shao, Chang Ma and Xinyue Wang
The purpose of this paper is to investigate the impact of design features in in-feed advertising on its effectiveness. Previous research on various forms of advertising has…
Abstract
Purpose
The purpose of this paper is to investigate the impact of design features in in-feed advertising on its effectiveness. Previous research on various forms of advertising has demonstrated that design features can influence advertising effectiveness. However, given the distinct presentation mode and content of in-feed advertising compared to traditional forms, it is crucial to examine whether the effects of design features differ for this type of advertising. Through two studies, we examined how five specific design features affect consumers' purchase intention within the context of in-feed advertising. The mediating role of perceived value and the moderating role of product involvement are also proved.
Design/methodology/approach
Using the methods of online survey and online experiment, the author conducted two empirical studies. In study 2, the authors adopted the orthogonal array design to simplify experimental grouping.
Findings
The findings demonstrate that akin to conventional Internet advertising, the informational content, credibility and entertainment value of in-feed advertising exert a positive influence on its efficacy. Notably, the interactive nature of in-feed advertising significantly enhances users' inclination toward making purchases. Conversely, any form of interference can detrimentally impact its utility.
Research limitations/implications
The study demonstrates five design characteristics that may impact the effectiveness of in-feed advertising, expanding the relevant theories about in-feed advertising. At the same time, this study contributes to the understanding of consumer responses to advertising. However, the two studies in this paper are conducted within the framework of WeChat, a popular Chinese social media platform, with the participants consisting exclusively of Chinese users.
Practical implications
Considering the rapid development of in-feed advertising in terms of quantity, content and form, the author believes that the results of this paper can help advertisers in their design thinking. The moderating effect of product involvement can be applied to optimize personalized advertising delivery schemes.
Originality/value
This paper focuses on a practical problem, that is, how to improve the effectiveness of in-feed advertising by modifying advertising design features.
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Chang Ma, Alei Fan and Seonjeong Ally Lee
This paper aims to examine the congruency effects of physically embodied robots in service encounters, which addressed a significant research gap concerning the synthesis of robot…
Abstract
Purpose
This paper aims to examine the congruency effects of physically embodied robots in service encounters, which addressed a significant research gap concerning the synthesis of robot design elements (e.g., appearance and voice) and their service purposes.
Design/methodology/approach
Grounded in congruity theory and human-robot interaction literature, this study conducted a pretest and two experimental studies revealing the need to view robot design holistically and recognizing the pivotal role of congruity in shaping consumers’ service robot adoption. The moderating role of service purposes (utilitarian vs hedonic) was also investigated in terms of robot design and consumer reactions.
Findings
Consumers generally tend to favor robots with congruent designs, particularly for utilitarian service purposes. The serial mediation through perceived congruence and perceived intelligence explains such a favorite tendency.
Practical implications
This study advances service robot design research by highlighting the critical role of congruity in enhancing consumer engagement. It supports the use of comprehensive, congruent designs for services with utilitarian purposes and recommends adaptable designs for hedonic settings.
Originality/value
This study addressed the research gap by examining service robot design from a holistic perspective. The research findings highlight the importance of congruency effects in service robot design and deployment and provide valuable insights and guidelines to industry practitioners for optimal investment in service robots.
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Justin Marthinus, Rodney Graeme Duffett and Brendon Knott
Social media has revolutionized marketing communication (MC). Rugby is South Africa’s most professionalized sport, leading the industry in its business management structure as…
Abstract
Purpose
Social media has revolutionized marketing communication (MC). Rugby is South Africa’s most professionalized sport, leading the industry in its business management structure as well as its high-performance achievements. However, below the professional level, local rugby clubs face a large disparity compared to their professional counterparts, often relying on volunteers or part-time employees to manage the organizations. Therefore, the purpose of this study is to investigate how non-professional rugby clubs use social media as a MC tool.
Design/methodology/approach
The study was exploratory, and a cross-sectional sample of twelve organizations was selected and employed a multiple case study approach. Club managers responsible for MC or social media participated in semi-structured interviews. The qualitative data analysis software, ATLAS.ti, facilitated the researchers’ use of an inductive approach to develop codes and themes for further analysis.
Findings
The findings revealed a high level of adoption of social media by the multiple cases (i.e. rugby sports club respondents), with only slight variations in the usage of specific social media applications (viz., Facebook, Instagram, Twitter, and WhatsApp). The sports clubs perceived that employing social media added substantial value to their MC. There were six emergent themes related to the organization’s perceived benefits from adopting social media MC, namely: brand awareness, relationship-building, player recruitment, attracting sponsors, storytelling, and information sharing.
Originality/value
The study makes a novel contribution in terms of how rugby clubs use social media as an MC tool. The paper advances scant knowledge and awareness of the relationship between South Africa’s sports marketing and social media. The conclusions will aid non-professional sports organizations in enhancing the effectiveness of their social media marketing by ensuring that their objectives and target audiences are well-defined.
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Wen He, Chongyi Chang, Lan Li and Yupan Song
The study aims to build a high-precision longitudinal dynamics model for heavy-haul trains and validate it with line test data, present an optimization method for multi-stage…
Abstract
Purpose
The study aims to build a high-precision longitudinal dynamics model for heavy-haul trains and validate it with line test data, present an optimization method for multi-stage cyclic brakes based on the model and conduct a multi-objective detailed evaluation of the driver’s manipulation during cyclic braking.
Design/methodology/approach
The high-precision longitudinal train dynamics model was established and verified by the cyclic braking test data of the 20,000 t heavy-haul combination train on the long and steep downgrade. Then the genetic algorithm is employed for optimization subsequent to decoupling multiple cyclic braking procedures, with due consideration of driver operation rules. For evaluation, key manipulation assessments in the scenario are prioritized, supplemented by multi-objective evaluation requirements, and the computational model is employed for detailed evaluation analysis.
Findings
Based on the model, experimental data reveal that the probability of longitudinal force error being less than 64.6 kN is approximately 68%, 95% for less than 129.2 kN and 99.7% for less than 193.8 kN. Upon optimizing manipulations during the cyclic braking, the maximum reduction in coupler force spans from 21% ∼ 23.9%. And the evaluation scores imply that a proper elevation of the releasing speed favors safety. A high electric braking force, although beneficial to some extent for energy-saving, is detrimental to reducing coupler force.
Originality/value
The results will provide a theoretical basis and practical guidance for further ensuring the safety and energy-efficient operation of heavy haul trains on long downhill sections and improving the operational quality of heavy-haul trains.
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Shuai Qian and Yipeng Wen
The purpose of this paper is to form propositions about the relationship between top management team (TMT) heterogeneity and peer effects in investment decision-making and explore…
Abstract
Purpose
The purpose of this paper is to form propositions about the relationship between top management team (TMT) heterogeneity and peer effects in investment decision-making and explore the mediating role of social learning processes.
Design/methodology/approach
To investigate the correlations between TMT heterogeneity and investment peer effects, we considered the TMT heterogeneity category, team process and contextual factors. With a sample of 8,467 firm-year observations from Chinese listed companies, we used the mean linear model and instrumental variable method to empirically examine their relationships. To identify the mediating role of social learning processes, we introduced a social learning model to find out the contextual factors influencing corporate social learning demands from three aspects and subsequently used comparative statics analysis to explore the variations in the main effect under these contextual factors.
Findings
For task-oriented heterogeneity (e.g. functional background, education and tenure heterogeneity), the opposite effects of information elaboration and social categorization processes make it a nonlinear multiplex correlation with investment peer effects. For relation-oriented heterogeneity (e.g. age and gender heterogeneity), the sole effect of social categorization processes leads to a negative linear correlation. Further, we identify the mediating role of social learning processes. In summary, we established a connection from the TMT heterogeneity, to information elaboration theory or social categorization theory, to social learning processes and ultimately to investment peer effects.
Originality/value
The results of this study provide a comprehensive perspective to predict the decision-making outcomes of team heterogeneity and contribute to heterogeneity research and practice.
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Ying Ma, Nava Raj Bhatt, Qianlong Wu and Mandeep Pokharel
This study introduces the heritage city risk dimension of the urban rail transit (URT) projects. It aims to identify the risk factors affecting URT projects within the unique…
Abstract
Purpose
This study introduces the heritage city risk dimension of the urban rail transit (URT) projects. It aims to identify the risk factors affecting URT projects within the unique context of heritage-rich cities, exploring their interrelation and evaluating critical factors.
Design/methodology/approach
The research adopts a multi-case exploratory study to identify the unique challenges faced by URT projects in heritage-rich environments, followed by a comprehensive risk assessment framework integrating Fuzzy Decision-Making Trial and Evaluation Laboratory (DEMATEL), Analytic Network Process (ANP) and Risk Interaction Network (RIN) analysis to assess identified risks in the context of Kathmandu Valley. Additionally, a risk response action is simulated using RIN analysis.
Findings
About 16 risk factors were identified from the case studies and evaluated using the proposed risk assessment methodology. The study reveals a highly interconnected risk environment, with heritage impact-related factors exerting the strongest causative influence on cost and social engagement factors. Community opposition (R8) shows the highest betweenness centrality, indicating its central position in risk propagation across the network. Cost-related risk, social demand contingency (R2) ranked as the most critical. Simulations of a targeted risk avoidance strategy showed that addressing only three key high-betweenness centrality factors (R5, R8 and R15) reduced overall risk interactions by 46%, simplifying the risk network, reducing project complexity and improving manageability.
Practical implications
The findings emphasize that project managers, urban planners and policymakers should integrate heritage preservation concerns when planning and executing URT projects in heritage-rich cities. Moreover, the research highlights that effective community engagement serves as a key strategy for reducing risk propagation and plays a crucial role in overall project risk management.
Originality/value
The study contributes to the underexplored context of URT projects in heritage-rich cities, providing a comprehensive risk management framework for identifying and assessing project risks intersecting with urban development imperatives and heritage conservation objectives.
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Lien Thi Nguyen, Minh Thi Nguyen and The Manh Nguyen
This paper examines the impact of macroeconomic volatility on stock volatility, both under normal conditions and during the COVID-19 pandemic in Vietnam.
Abstract
Purpose
This paper examines the impact of macroeconomic volatility on stock volatility, both under normal conditions and during the COVID-19 pandemic in Vietnam.
Design/methodology/approach
We extend the existing Exponential Generalized Autoregressive Conditional Heteroskedasticity model by adding a new component: the thresholds – the levels of macroeconomic volatility at which the market may respond differently. These thresholds are estimated for both positive and negative volatility.
Findings
The impact of macroeconomic volatility on stock volatility is asymmetric: there are thresholds of macroeconomic volatility at which its pattern changes. These thresholds are higher in the case of positive volatility compared with negative volatility. The thresholds were also higher during the COVID-19 pandemic. Macroeconomic variables influence stock volatility differently depending on market conditions. While GDP is more significant in normal periods, interest rates affect it in both normal and unstable phases.
Research limitations/implications
Our models consider only two variables representing macroeconomic variables: interest rate and GDP. Furthermore, only one lag period of the variables is included in the analysis. In the future, more macrovariables and longer lags could be included when computational techniques advance.
Practical implications
Policymakers should consider the impact of macroeconomic volatility on the stock market when designing policies, especially at thresholds. Similarly, investors should pay more attention to macroeconomic volatility when constructing and managing their portfolios, particularly when such volatility is close to thresholds.
Originality/value
The inclusion of thresholds as parameters to be estimated into the model provides more insights into the impact of macroeconomic variables on stock volatility.
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Dagmara Wójcik and Katarzyna Czernek-Marszałek
The paper aims to present the importance of social relationships in cooperation among theaters in the creation of three types of values that characterize arts entrepreneurship…
Abstract
Purpose
The paper aims to present the importance of social relationships in cooperation among theaters in the creation of three types of values that characterize arts entrepreneurship (i.e. artistic, economic and social).
Design/methodology/approach
The findings are based on qualitative research with the use of 50 semi-structured interviews conducted with 57 representatives of public and private theaters in the performing arts sector in Poland.
Findings
The research shows how social relationships among cooperating representatives of theaters are used to create three types of values that characterize performing arts entrepreneurship (i.e. artistic, economic and social). The findings reveal that theater representatives take advantage of social relationships and engage in inter-organizational cooperation in introducing various changes in their institutions. Thus, by fostering innovation, risk-taking and searching for new opportunities they adapt to the dynamic environment. The paper shows how the three groups of values of performing arts entrepreneurship are interrelated but also sometimes conflicted with one another.
Research limitations/implications
The research is not representative as it presents the context of the analyzed theaters in Poland.
Originality/value
Entrepreneurship, although a popular subject of research, has been much less frequently analyzed with regard to the creative industries, such as the performing arts. In the field of management, researchers have focused primarily on business organization entrepreneurship, excluding cultural and arts institutions such as theaters. In this context, so-called arts entrepreneurship has not yet been widely recognized. In particular, there is a lack of research showing how social relationships between cooperating partners are used in the creation of three types of values in performing arts entrepreneurship, i.e. artistic, economic and social. The article fills this gap and presents both a scientific as well as an applicative contribution.
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Wei Wu, Chau Le, Yulu Shi and Fadi Alkaraan
Financial flexibility and investment efficiency are of vital importance in strategic choices at boardrooms, particularly in post-crisis recovery strategies. This study examines…
Abstract
Purpose
Financial flexibility and investment efficiency are of vital importance in strategic choices at boardrooms, particularly in post-crisis recovery strategies. This study examines the moderating effects of investment efficiency and investment scale on the relationship between financial flexibility and firm performance.
Design/methodology/approach
The authors use sample of 10,755 US-listed firms over the period 2010–2021 to examine the relationships between investment scale, investment efficiency, financial flexibility and firm performance. Particular attention is paid to overinvestment and underinvestment.
Findings
Findings of this study reveal that financial flexibility mitigates investment inefficiency through reducing overinvestment. Financial flexibility contributes to boost a firm’s accounting and market performance. Additionally, investment efficiency and investment scale have moderating effects on the relationship between financial flexibility and firm performance. However, the influence of investment efficiency is greater than the influence of investment scale. Finally, the authors find that the direct and indirect effects of financial flexibility are stronger on market performance than accounting performance, implying that market is more sensitive to corporate financial policies.
Research limitations/implications
Findings of this study have implications for scholars, decision-makers policymakers, investors and other stakeholders.
Practical implications
This study has its own limitations due to the sample selection issues, country context and the research model adopted by this study.
Originality/value
The novel contribution to the extant literature is incorporating the influence of investment scale and investment efficiency into the relationship between financial flexibility and firm performance.
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Gökberk Can, Rezart Demiraj and Hounaida Mersni
The purpose of the article is to examine the effect of life cycle stages on capital expenditures, using Borsa Istanbul-listed companies.
Abstract
Purpose
The purpose of the article is to examine the effect of life cycle stages on capital expenditures, using Borsa Istanbul-listed companies.
Design/methodology/approach
The panel data estimation procedure was used as the primary method to test the hypothesis. The authors used four additional analyses to check the robustness of the results. The model was tested for endogeneity using the generalized method of moments (GMM) estimation. Quantile regression was utilized for the non-parametric test of the model. In the third robustness test, the sample was divided into two using financial constraints with the Size-Age (SA) Index proposed by Hadlock and Pierce (2010). The last analysis removed the global financial crisis (GFC) years from the sample.
Findings
Borsa Istanbul-listed companies tend to invest less as they move forward in their life cycle stages. The results show that market capitalization, operating cash flow levels and leverage positively affect capital expenditure investments. The empirical evidence also revealed that cash holding levels have a negative effect on capital expenditure decisions. Robustness tests support the results.
Practical implications
The findings are potentially useful for investors and managers. Having the information that decreasing capital expenditures signals that the company is in the last stages of its life would be a sign for managers to improve their investment strategies to avoid getting out of business and survive. They need to find options and solutions to propel their companies back on a path of growth. Additionally, the same information could be vital for investors' investment decisions.
Originality/value
This paper contributes to the literature by providing evidence about the effect of life cycle stages on capital expenditures from an emerging market. To the best of the authors’ knowledge, it is the first paper to investigate empirically how moving forward in the life cycle stages affects capital expenditures in an emerging market.